N.SANTHANAM,CHENNAI vs. ACIT CENTRAL CIRCLE-1(2), CHENNAI
In the result, appeal filed by the assessee is dismissed
ITA 328/CHNY/2020[2014-15]Status: DisposedITAT Chennai26 Oct 2021AY 2014-15
Bench: Shri Duvvuru Rl Reddy & Shri G. Manjunathaआयकरअपीलसं./I.T.A.No.328/Chny/2020 ("नधा"रणवष" / Assessment Year: 2014-15) Mr. N.Santhanam Vs The Assistant Commissioner Old No.14, New No.12, Income Tax, Seethammal Colony Extension, Central Circle-1(2) 1St Cross Street, Teynampet, Chennai-600 034. Chennai-600 018. Pan: Axups 6533R (अपीलाथ"/Appellant) (""यथ"/Respondent)
For Appellant: Ms.R.Anita, Addl.CIT
Section 132Section 132(4)Section 143(2)Section 143(3)Section 271ASection 274
disallowed by the AO, the penalty shall be - three times the amount of tax sought to be evaded. In the case of amounts disclosed during the course of search, the penalty amount is only ten percent of the undisclosed income.
Parliament has, therefore, given a different treatment to the latter category. At the same time, if an assessee were
